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Strategies & Market Trends : Floorless Preferred Stock/Debenture -- Ignore unavailable to you. Want to Upgrade?

To: Gerald Walls who wrote (945)9/4/1999 2:46:00 AM
From: Larry Brubaker  Read Replies (1) | Respond to of 1438
 
<<This one isn't floorless until February>>

Gerald, I've noticed several examples in which companies with "delayed reaction" floorless shoot up quite a bit during the period between the time the deal is signed and the time the floorless conversion kicks in. Gives the bandits a nice price to place their hedge. This would seem to be the most opportune time to climb aboard the bandits' coat tails. When does the AND floorless conversion kick in?



To: Gerald Walls who wrote (945)9/13/1999 7:47:00 PM
From: Greg Jung  Read Replies (1) | Respond to of 1438
 
There is a lot of hemming and Hawing in the NAVR/Fletcher 8-k.
A lot of conditionals, there. I'm interested for a friend who is long... has anybody here penetrated the legalese and the what-ifs yet? It appeared to me that conversion dilution protection was attempted, although I did notice some hefty interest payments once
a default event occured. Sorry no more time for this. Thanks


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